Litecoin price long-term trend: Bullish

For the past five months, the Litecoin market has been bolstered in an upward direction, retesting the late 2018 monthly resistances between $40 and $100 on a climb. While trading at around $91, the token is faced with a tight price range of $100 - $105, the June 2018 supply zone.

Earlier last month, LTC started to decline after touching $100 leading to a three-week retracement move before the pressure lasted to the $65 level with the supporting 50-day simple moving average. Below lies the supporting 100-day simple moving average alongside the price action.

After retouching the $100 level, however, a breach above the supply zone could drive the LTC price to around $110. As suggested on the RSI, there’s more room to accumulate. Alternatively, a drive lower could lead the sellers to $80 and $65 levels supported by the SMA.

A further decline could drop the price to the $50 and $40 supports well into bearish territory. For now, Litecoin remains bullish on the daily chart.

Litecoin price medium-term trend: Bullish

On the 4-hour chart, the price of Litecoin is rising and facing a supply zone at $96 - $100. For a price break, we can expect a further rally to tag a fresh price above the initial zone at around $104 and $110.

If we are to consider a price rejection at the mentioned supply zone, the 50 SMA and the 100 SMA would be supporting the market close to the $84 and $76 levels, protecting against a sudden drop. Adding to the likely bear surge, the RSI is slowly falling after reaching the overbought condition. This may be reflected on the price chart later.

Litecoin appears to be forming a double top, which suggests a bearish move. Regardless of the move, LTC makes in the immediate future, the LTC market is projected as bullish on a medium-term outlook.

Litecoin price short-term trend: Bullish

Litecoin has followed an uptrend after breaching the 50 SMA and the 100 SMA in a long move. As a result of this move, the market has appeared positive along with a supporting simple moving averages band. Meanwhile, a supply zone lies ahead for the bidders at a tight area between $93 and $96, drawn in a rectangle on the hourly chart.

If the supply zone can be surpassed, the buying momentum is likely to contend with resistance at $97.5. In case of a sudden bearish surge, the price action might be supported by the 100 SMA with the market testing the $85 level. However, breaking the mentioned level may introduce the bears into the market, visiting potential supports of $80 and $75.

Currently, the RSI is rising after a little retracement which appeared on the hourly chart. Correlating the market wave with the RSI, the overbought level has been acting as a supply level for the market in the last three days of trading.